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• HCL Tech’s CC revenue grew 1.6% QoQ (up 6.2% YoY CC), ahead of our estimates, led recovery in IT services business (1.6% QoQ in CC versus -1.9% in 1QFY25) and strong growth of 1.4% QoQ CC in HCL software revenue. CC YoY revenue grew 6.2% YoY. In reported terms, USD revenue was up by 2.4% QoQ to USD 3,445 mn versus our estimates of USD 3,411 mn, better than our expectations.
• HCL Tech IT and business services revenue was up 1.8% QoQ on CC, better than our expectations. HCL software revenue was up by 1.4% QoQ (up 9.4% YoY) in CC terms, highest in 2Q in the last three quarters.
• EBIT margin improved 150bps QoQ to 18.6%, led by strong margin improvement in both ER&D business (up 183bps QoQ) and HCL Software (up 503bps QoQ), and absence of productivity gains passed on to clients in select contracts. The improvement in HCL Software’s margin is the highest in 2Q in the last several years. Net profit came to INR 42,350mn, up 10.5% YoY, ahead of our estimates by 4.5%, led by to better than expected revenue and margin.
• HCL Tech maintained its revenue growth guidance of 3%-5% in CC for FY25E despite CC revenue growth of 5.9% YoY CC in 1HFY25. The company increased the lower end of service revenue growth guidance band to 3.5%-5% YoY in CC to 3%-5% earier. HCL Tech maintained its EBIT margin guidance of 18-19% for FY25E.
• Net employee reduction stood at 780 on QoQ during the quarter. Attrition rate inched up by 10 bps to 12.9% versus 12.8% in 1QFY25. TCS’s attrition rate also increased by 20bps QoQ in 2QFY25.
• HCL Tech’s deal TCVs increased by 13.2% QoQ, but down 44.1% YoY to USD 2,218mn versus USD 1,960mn in the previous quarter. However, TTM TCVs declined by 15.7% YoY.
• HCL Tech’s top 5, and top 10 clients continued to grow strongly on QoQ and YoY basis. Top 5 and top 10 clients were up by 32% YoY and 25% YoY in 2QFY25, while non-top 20 clients grew by 1.7% YoY.
• The company added 4 clients each on QoQ basis under USD 50mn and USD 20 mn revenue bracket, while number of USD 100 mn clients was flat on QoQ.
• The company declared a dividend of INR 12 per share during the quarter. LTM FCF/NI remained at 119% versus 133% in the previous quarter.
• View: The company beat headline numbers across all financial fronts. YoY CC revenue growth of 5.9% in 1H remained higher than TCS’ CC growth of 5% YoY. The company reported broad-based growth across verticals (flattish for financial services) and regions. North America reported YoY CC revenue growth of 7.5% versus -2.1% YoY for TCS. Further, the top 5 and top 10 clients have been growing strongly. Deal TCVs remained healthy during the quarter. The company increased its lower end of service revenue growth guidance to 3.5%-5% from 3%-5% earlier. We have HOLD rating on the stock.

National/Mumbai, October 16, 2024: Aakash Educational Services Limited (AESL), the national leader in test preparatory services for NEET and JEE, is proud to announce the launch of its podcast series, “Aakash Breakroom” to motivate and educate students, offering actionable strategies to enhance their NEET and JEE exam preparation. This podcast is designed to support and meet the needs of students preparing for competitive exams, offering academic insights and guidance on personal growth and well-being.

The Aakash Breakroom podcast will feature a wide range of topics, focusing on helping students excel academically and navigating exam preparation pressure. It will cover effective strategies for success in competitive exams, providing proven academic tips and tricks to aid students in their study process. In addition to academic advice, the podcast will address the critical issue of stress management, sharing techniques to help students manage pressure and maintain their focus during high-stress periods.

Recognizing the importance of a balanced lifestyle, the podcast will also offer insights on how students can maintain their well-being while pursuing their academic goals. Beyond academics, the podcast will provide a platform for sharing personal stories and insights from experienced individuals, helping students feel supported in both their academic and personal journeys.

Speaking about the launch, Mr. Deepak Mehrotra, MD & CEO of Aakash Educational Services Limited (AESL), said, “At AESL, we believe that success in competitive exams goes beyond academic knowledge—it requires resilience, balance, and emotional strength. With the launch of the Aakash Breakroom podcast, we’re providing students with not just the tools to excel in exams, but also the mental and emotional support they need to thrive in this demanding journey. Our aim is to inspire, motivate, and equip students with strategies that prepare them for both the rigors of the exam and the challenges of life beyond it.”

AESL is recognized for offering thorough and effective preparation programs for students aiming to excel in high-stakes medical (NEET) and engineering entrance exams (JEE), as well as competitive exams like NTSE and Olympiads. The institute is dedicated to delivering top-quality test preparation services that empower students to realize their full potential and succeed in their academic pursuits.

Bengaluru, October 16, 2024: Navi Finserv, announced today the completion of a US transaction with Goldman Sachs (India) Finance Private Limited, the NBFC arm of Goldman Sachs in India. Goldman Sachs is the seventh multinational bank to lend to Navi Finserv.

The transaction is structured via pass-through certificates with IND AA (SO) (India Ratings) and is backed by a pool of unsecured personal loans, originated and serviced by Navi Finserv.

A Navi Finserv spokesperson said, “This transaction with Goldman Sachs will fuel Navi Finserv’s long-term mission to simplify and enable access to finance for a billion people. Navi Finserv continues to scale its operations with high-quality underwriting, to help bring more people into the formal financial system by offering them access to seamless credit and delivering exceptional customer experience.”

Hitesh G, an Executive Director in FICC Credit Structuring at Goldman Sachs in India, said, “Goldman Sachs is focused on providing unique debt solutions in India as companies seek liquidity to strengthen their balance sheets for growth.”

Mumbai, 16th October 2024: Angel One Ltd, a leading Fintech player, is delighted to announce the onboarding of Arief Mohamad as Chief Business Officer – Direct Business. This strategic addition is set to strengthen the company’s leadership team, driving innovation and growth in the ever-evolving financial technology landscape. With extensive experience in scaling businesses and leading transformative initiatives, Arief is poised to play a pivotal role in expanding Angel One’s presence and enhancing client experience.

Arief brings over 16 years of distinguished experience in digital commerce, growing businesses at scale, strong understanding of customers and client engagement. As Chief Business Officer, he will lead Angel One’s direct business vertical, focusing on scaling the company’s digital presence and driving client-centric innovations.

Mr. Dinesh Thakkar, Chairman & Managing Director, Angel One Ltd., said, “As we continue to redefine the financial services landscape through technology, having a capable leader as Arief joining us is truly exciting. His proven track record in scaling digital businesses aligns perfectly with our vision of becoming a platform that comprehensively addresses all financial needs in India. Arief’s expertise in creating customer-first experiences will be instrumental, as we embark on the journey of making financial services more accessible to a billion Indians.”

Mr. Arief Mohamad, Chief Business Officer – Direct Business, Angel One Ltd., said, “The fintech revolution in India is at an inflection point and Angel One stands at the forefront of this transformation. I am thrilled to join a company that shares my passion for leveraging technology to democratize financial services. Together with the exceptional team at Angel One, I look forward to building innovative solutions to empower more individuals, thus driving sustainable growth for the organization.”

In his previous role as Vice President and Head of Fashion at Flipkart, Arief was leading one of the largest Fashion businesses in the country. He also has led critical charters for Flipkart previously including Mobiles business and drove the Customer, Growth and Loyalty charters for Flipkart.

Mumbai, Oct 16 ‘2024: Avaada Energy, India’s leading renewable energy Independent Power Producer (IPP) and an arm of Avaada Group, is pleased to announce the successful closure of approximately INR 597 crore (~USD 71.1 Million) in refinancing for its Commercial & Industrial (C&I) solar projects in the states of Karnataka and Maharashtra.

The refinancing was secured from NIIF Infrastructure Finance Limited (NIIF IFL), an infrastructure debt fund dedicated to refinancing high-quality operational infrastructure projects. The refinancing from NIIF IFL has reaffirmed the strength and stability of Avaada’s solar projects through this refinancing deal.

These projects currently supply electricity to various leading corporates in the country, including Bharati Airtel, Motherson, Bharat Forge, STT, Nxtra Data, Lumax etc., supporting them in their energy transition goals.

The refinancing from NIIF IFL secured significantly improved commercial terms to facilitate prepayment of existing loan facility along with delivering reduction in finance costs while releasing capital for future deployment.

Commenting on the development, Mr. Vineet Mittal, Chairman of Avaada Group, said, “We are thrilled to strengthen our partnership with NIIF IFL. This financing is a testament to our strategic vision of developing a diversified and high-quality energy transition portfolio to attract specialized capital while delivering state-of-the-art solutions for our C&I customers. The improved financing terms enhance the financial position of these projects and create value for all stakeholders.”

“This refinancing aligns with Avaada’s commitment to a sustainable future and underscores its contribution towards effectively reducing carbon footprints on a global scale,” Mr. Mittal added.

Every great role has a spark of inspiration, and sometimes it comes from iconic characters we’ve all loved! Siddhant Issar, who plays Veer in Star Bharat’s thrilling new show ‘Shaitani Rasmein’, shared an exciting comparison – he sees shades of Shahid Kapoor’s unforgettable character, Aditya, from ‘Jab We Met’ in his own portrayal. Just like Aditya, Veer is set to bring a unique blend of charm and intensity to the screen, making this role one to watch!

He shared, “My new character in ‘Shaitani Rasmein’ is a total game-changer! I used to play Maalik, who was completely dark and evil, but now, I’m stepping into the role of Veer, and he’s the exact opposite. It’s like going from ‘Shaitan to Sadhu’! Veer is this kind-hearted, soft-spoken guy who treats everyone with respect. It’s a 360-degree twist in the story, and I can’t wait for everyone to see this transformation! My character is a green flag.”

He added, “Veer is the ultimate modern-day guy – I can say he is like Shahid Kapoor’s character Aditya from Jab We Met! He’s 20, comes from a wealthy background, and has a wardrobe to match. Picture stylish blazers, trendy T-shirts, and designer jeans. Veers got that polished London vibe, and you’ll see him evolve from a dark, brooding look to a more refined, sophisticated style.”

New Delhi, 16 October 2024: AuthBridge, India’s leading authentication company, announced the appointment of Naveen Goyal as Chief of Technology and Products. With over two decades of experience in the internet space and a proven track record of founding successful online ventures, Naveen will play a pivotal role in driving AuthBridge’s technological innovation and product development.

Naveen brings a wealth of expertise from his successful stints in e-commerce, travel, and gaming. His entrepreneurial journey has taken him across the globe, with successful exits in India, the Philippines, Ireland, France, Costa Rica, and Canada. His deep understanding of emerging technologies and his passion for building trust ecosystems will be invaluable to AuthBridge as it continues to expand its offerings and strengthen its position in the market.

“We are thrilled to welcome Naveen to the AuthBridge family,” said Ajay Trehan, Founder and CEO at AuthBridge. “His extensive experience in the technology sector and his passion for building innovative solutions align perfectly with our mission to provide cutting-edge authentication services. We are confident that under his leadership, AuthBridge will continue to be at the forefront of the industry.”

Prior to joining AuthBridge, Naveen held key leadership positions in various organizations, where he demonstrated his ability to scale businesses and deliver exceptional results. His strategic vision and innovative approach to problem-solving will undoubtedly contribute to AuthBridge’s growth and success.

Naveen expressed his excitement about joining AuthBridge and contributing to its growth. “AuthBridge’s commitment to delivering exceptional authentication solutions is inspiring,” he said. “I am eager to leverage my experience to drive innovation and help AuthBridge further establish itself as a leader in the market.”

Bangaluru, 15/10/2024: Hotelogix, a globally leading cloud-based hospitality technology provider, said Alivaa Hotels & Resorts in India

has adopted its multi-property management system to streamline and automate operations and realize its expansion goals while exceeding guest experience and winning over their loyalty.

Born out of a vision to redefine hospitality by creating unforgettable experiences, Alivaa Hotels & Resorts has steadily carved a niche as a revolutionary brand offering guests more than just a place to stay. It currently has a 144-room property in Gurugram and aims to expand rapidly. The management seeks to create, transform, operate, and distribute hospitality assets to ensure the highest possible stakeholder returns in the industry while establishing new benchmarks for lifestyle hotels.

As a new entrant in India’s highly competitive hotel landscape filled with big international and growing home-grown brands, Alivaa Hotels & Resorts’ management was clear about adopting a cloud-based solution. “We were looking for something not just to streamline daily operations. Rather, we were searching for a comprehensive platform that could help us grow big while keeping IT overheads under control, gain a competitive edge, and serve guests better. Hotelogix was the natural choice as it has won the trust of some of the rapidly growing home-grown hotel groups,” said Vikramjit Singh, Founder & CMD of Alivaa Hotels & Resorts.

Apart from its all-in-one Hotel PMS, Hotelogix has offered Alivaa Hotels & Resorts a Mobile PMS App to help them track property positions from anywhere and anytime. It has also integrated its Hotel PMS with a Channel Manager for real-time distribution along with other third-party integrations, including door lock and accounting. Additionally, several system-generated reports will enable management to gain better insights and make informed operational planning.

Speaking further, Vikramjit said, “Hotelogix has made it easy for new domestic brands like ours to leverage world-class solutions cost-effectively. It allows us to compete with bigger rivals to stay relevant in today’s market, where guest preferences change rapidly.”

“Adopting the cloud with Hotelogix will empower Alivaa Hotels & Resorts to scale its portfolio while offering top-notch guest experience,” said Aditya Sanghi, Co-founder & CEO of Hotelogix. “We are thrilled to be the technology partner of such an exciting and ambitious hospitality brand, and we will ensure they see the desired ROI with us soon.”

16th October 2024, Mumbai – It is always fun to dress up kids in the trendy and playful outfits. Usually kids, especially little girls are drawn to vibrant patterns like colourful stripes, polka dots, and cute animal prints on T-shirts. It becomes a point of stress for the parents to seek outfits that are not only fun and cheerful but also comfortable, ensuring that their little ones look confident and joyful which brightens everyone’s day around them.

For all the parents who want the best for their little fashionistas, here are five bright outfit ideas for your little lady:

Lavender is the new pink this season, making it the most sought-after colour. This beautiful design looks like it’s straight out of a favourite kids’ show. Its adorable print adds a playful touch to the outfit. With such a diverse range of colours available, the girls will find it hard to choose just one favourite. Its versatility makes it an excellent option for different occasions; your little girls can wear it to the park or as loungewear while binge-watching their favourite cartoons.

Dresses are a must have for every trendsetter and ones with breathable and soft fabric allow girls to play and relax with ease. The bright colours evoke the freshness of a spring morning, adding a cheerful touch to the wardrobe. From floral prints to creative designs, these printed dresses by Jockey Juniors cater to every child’s unique taste and interest.

These bright yellow shorts are like a burst of sunshine breaking through the clouds. The pair radiates joy and is perfect for an imaginary tea party with dolls and teddy bears. The softness of the fabric ensures that the girls stay comfortable and focused on playtime, enjoying every moment without any discomfort.

This sweatshirt is designed to match the boundless energy and enthusiasm of every girl, regardless of the weather. Made from super combed cotton, this sweatshirt provides exceptional warmth and protection, ensuring your little diva stay comfortable even on chillier days. Its soft material and raglan sleeves allow for unrestricted movement, so one can run, play, and explore the playground with ease. This style by Jockey Juniors lets mini fashionistas enjoy their day to the fullest without any hassle, while also adding a touch of fun to their wardrobe.

Spark joy in every adventure with these printed joggers. Made from soft, breathable fabric, they offer a relaxed fit that keeps the girls comfy from morning playdates to cozy afternoons. The playful design adds a touch of whimsy, making these joggers a delightful addition to any kid’s wardrobe. Perfect for running, jumping, or just relaxing, they combine playful style with all-day comfort, ensuring every moment is filled with fun and freedom.

So, all the parents out there, get ready for your children to steal the spotlight with these fabulous styles. These outfits are more than just clothes—they’re instant mood boosters, adding vibrance and charm to every moment. Perfect for a day at the park or any fun outing, they’ll ensure the kids look stylish while staying comfortable.

Hyderabad, October 15th: Indian Railways – South Star Rail, India’s first and only private sector service provider under Bharat Gaurav Train of the Indian Railways and Tour Times is India’s largest tourist train service operator, has announced a special train to Karnataka, giving people an opportunity to visit temples of Karnataka. A 09 day all-inclusive package tour begins on December 05 and bookings are open.

Passengers can board from Andhrapradesh and Telangana. Over the course of 09days, the itinerary visits the most prominent temples in Karnataka – Navabrindavanam, Gokarna, Murudeshwar, Kollur, Sringeri, Horanadu, Dharmasthala, Kuki Subramanya, Mysore, Srirangapatna, Melkote.

On December 9, Monday tourists can have darshan of Manjunatha Swamy at Dharmasthala and on December 10, Tuesday, a chance to visit Kukke Subramanya Swamy, and perform Sarpa Dosha/ Kuja Dosha Pooja. It is an opportunity to participate in this yatra and get the blessings of our ancestors by doing pinda dhaan regardless of the nakshatra and thidhi at Gokarna.

The fully air-conditioned train is well equipped with a variety of amenities, including public announcement systems for information about destinations and routes, entertainment facilities, CCTV cameras, a tour manager for each coach.

This package includes South-Indian cuisine, without Onion and Garlic. Passengers will also be able to keep their luggage in the coach while visiting destinations since security guards will be appointed to each coach to ensure the protection of the luggage.

We will have this special train service for the people of Andhrapradesh and Telengana as the train has stops at Gudur, Nellore, Ongole, Chirala, Guntur, Nalgonda, Miryalguda, Secunderabad.

The journey will be guided and handheld for senior citizens. During the trip and stay at the locations, passengers will be given ID cards and emergency contacts. Further, the central and state government employees can use the Leave Travel Concession(LTC) for this journey and claim reimbursement.